|By goGreen | June 15, 2012|
The Philippines’ latest geothermal power plant has just been recently inagurated last April 27. The Maibarara Geothermal Power Plant, a 20-MW project engaged to provide more power for the Luzon grid, enjoyed a simple yet meaningful opening under the watchful eyes of Aquino Administration representatives.
The Geothermal power plant, which is a joint venture among several power conglomerates (Philippine National Oil Company-Renewable Corporation, PetroGreen Energy Corp., Trans-Asial Oil and Energy Development Corp., is mainly managed and owned by the Maibarara Geothermal Inc. (MGI).
The Department of Energy (DOE) Undersecretary, Joseph M. Layug Jr. was present during the launch. Layug has complimented MGI’s efforts on making the power plant a reality, which is apparently the first sustainable power source since the implementation of the Northern Negros plant way back in the year 2007. The Maibarara Geothermal Power Plant is also the first renewable project to see the light of day among the more than 250 RE (renewable energy) contracts signed and awarded in the 2008 RE law.
MGI has had secured loans from the Bank of the Philippine Islands and Rizal Commercial Banking Corp. to help construct most of the plant’s steamlines. Also, MGI has stated that the project will not only provide more energy for the grid, but may be an source of livelihood by providing jobs for locals in the vicinity.
SOURCE: Renewable Energy Philippines